EX-12 3 ex12_063003-10q.txt EXHIBIT 12 Exhibit 12
The Gillette Company Ratio of Earnings to Fixed Charges Six months Six months Dollars in millions ended ended June 30, 2003 June 30, 2002 2002 2001 2000 1999 1998 --------------- --------------- ----- ----- ----- ----- ----- Earnings: Income from continuing operations before income taxes $ 859 748 1,752 1,342 1,288 1,912 1,656 Interest expense 30 44 84 145 223 136 94 Interest portion of rental expense 22 20 43 31 25 20 17 Amortization of capitalized interest 5 5 10 9 6 5 4 ----- ----- ----- ----- ----- ----- ----- Earnings available for fixed charges $ 916 817 1,889 1,527 1,542 2,073 1,771 ===== ===== ===== ===== ===== ===== ===== Fixed Charges: Interest expense $ 30 44 84 145 223 136 94 Interest capitalized 1 2 4 11 23 13 18 Iterest portion of rental expense 22 20 43 31 25 20 17 ----- ----- ----- ----- ----- ----- ----- Total fixed charges $ 53 66 131 187 271 169 129 ===== ===== ===== ===== ===== ===== ===== Ratio of Earnings to Fixed Charges 17.3 12.4 14.5 8.2 5.7 12.3 13.7 ===== ===== ===== ===== ===== ===== =====